Peaceful Rise of China: Greater China Strategy

In modern global circumstances one of the aims of Chinese authorities is to preserve and maintain the national security in terms of peaceful rise and development of the country and the whole region, to attract the most promising neighbors, create a single economic union with them, which may be consolidated into political unit in future. One of the solutions to these problems is to implement the strategy of Greater China between Peoples’ Republic of China (PRC), Hong Kong, Macao and Taiwan. Association of Greater China has a number of unifying factors, such as: economic complementarities, common history and culture, a national affinity, a single geographical location of potential member territories. In addition to it, the ability and effectiveness of the implementation of the Greater China strategy depends on the following the principle of “one country, two systems”, involving the preservation of their own capitalist economic systems in Hong Kong, Macao and Taiwan, and socialist system in mainland China.
So then, China has create a free trade areas with Hong Kong and Macao, what lead to more effective economic cooperation between territories and become an example to the development of partnership between China and Taiwan, what eventually would boost the formation of a single integration group with a unified set of measures in trade, investment and monetary policy.
Thus, despite the long confrontation between mainland China and Taiwan in the late twentieth century, the economic partnerships in recent years have received the greatest development, culminating in signing the Economic Cooperation Framework Agreement between China and Taiwan.
All in all, even taking into account the presence of a certain number of difficulties between the parties in the region, prospects for cooperation between China, Hong Kong, Macao and Taiwan seem to be very attractive in the long run. Such cooperation could serve as a stimulus to the development of economically viable and politically stable regional association of Greater China, which fully reflects the concept of regional economic integration.